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Electric Vehicle Charging Points and Wallboxes Clearview

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Charging points

Market developments

E-mobility perspective

The market for electric vehicle charging points and wallboxes is naturally driven by the rising demand for e-mobility solutions. As a result of the tightening regulatory environment, especially across the EU, combined with growing concerns over environmental pollution, the electrical vehicle (“EV”) market is experiencing rapid growth. This is expected to increase in the upcoming years.

Electric vehicles Germany chart 1 Website 01
In order to achieve the climate goals set by the European Union until 2030, a rapid change in the type of transportation is required in all European countries. In Germany, the Government has set ambitious target numbers of EVs, aiming for one million EVs by 2020 and six million EVs by 2030 (see chart 1). Hence, the share of EVs sold is expected to rise from 3% in 2020 to above 30% by 2030.

Major electric car manufacturers, such as BMW, Volkswagen and Tesla, are investing heavily to develop more affordable EVs to further drive the growth and acceptance in the market. However, Germany is currently largely behind its targets with less than 250,000 EVs on the road in 2019, partly as result of limited investment incentives for consumers but mostly as result of limited access to charging points across the country.

Charging points: highly fragmented market

Electric vehicles Germany chart 2 Website 01
A dense charging infrastructure is a prerequisite for the sustainable success of e-mobility in Germany. In order to reach the targeted one million EVs by 2020, a dynamic development of the charging infrastructure is required. Currently, only approximately 60% of required charging points are installed (see chart 2). In particular, a limited availability of public charging points puts further pressure on private wallboxes to be the backbone of the charging infrastructure and e-mobility.

The need for a significant improvement of the infrastructure is supported by constant innovations and a strong increase in the efficiency of charging points combined with decreasing prices.

This dynamic market environment and the need for a resilient charging infrastructure offers companies from various end-markets the opportunity to widen business models and revenue streams, e.g. through product innovations or bundling of existing and new services.

Automotive players, especially Tesla and Volkswagen are among the most active market players, developing special offers including EV / wallbox bundle packages or granting a lifetime free access to public superchargers.

Energy suppliers are actively building infrastructures and are bundling (own) wallboxes with their energy contracts. In this context, French EDF Group recently acquired POD Point to become the leading energy company for electric mobility in UK.

Naturally, OEMs such as Schneider Electric and Webasto are developing universal private chargers. In addition, new players in e-mobility markets, such as Heidelberger Druckma-schinen, are expanding their product portfolio with existing know-how.
Smart home solutions providers, such as sonnen group, which was acquired by Shell, offers an intelligent energy storage system and expands its solution towards EV charging.

COVID-19 impact

It is expected that the COVID-19 impact will further delay the German EV targets as OEMs and suppliers have reduced / halted production of vehicles as well as components. Despite the crisis, Tesla remains confident to finalise its plant close to Berlin with production starting in Summer 2021.

Electric car

M&A activity

Consolidation drivers

Selected market transactions
DateTargetCountryBuyerCountry
Feb-20POD Point LimitedUKEDF S.A.Legal & General CapitalFR UK
Oct-19Compleo Charging Solutions GmbHDEFontus Invest GmbHDE
Aug-19E-Wald GmbHDEStatkraft ASNO
Jul-19chargeIT mobility GmbHDEEneco emobility B.V.NL
Jul-91Engenie LtdUKCube Infrastructure Managers S.A.LU
May-19Be Power Srl (51% Stake)ITZouk Capital LLPUK
Dec-18evpass SA (33% Stake)CHAEW Energie AGCH
Jul-18EVTronicFREVBox B.V.NL
Jun-18ChargeMaster PlcUKBP PlcUK
May-18Allego B.V.NLMeridiam SASFR

According to a recent market study1, strategic investors, with an existing product / service portfolio in the EV market, and European utilities were responsible for over 80% of the EV infrastructure related M&A activity in the last decade. These acquisitions allowed the companies to enter and strengthen their position in the growing EV charging market.

MA deals chart Website 01
Oil & Gas players, such as BP and Shell, represent the third largest investing category, underlining their strategy to expand their presence in the power and transport electrification sector. Private equity investors show only limited activity. In total, 32 EV infrastructure related acquisitions were recorded globally since 2011, with activity peaks in 2013, 2017 and 2018.
Top 5 Fundraisers in the Last Decade 02
During the same period, 61 EV charging infrastructure companies raised a cumulative total volume of $1.7bn venture capital and private equity firms were the most active investors in those rounds. The majority of the investments were provided to charging unit manufacturers, network operators and vertically integrated vendors.

To view our automotive transactions please click here.

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